Posted September 9, 2021
Hamilton, Ontario - Yesterday at the General Issues Committee Councillors voted 6-4 to deny a $170,000 grant to Malleum for renovations at 540 King St E! (To be ratified at Council meeting September 15th)
Since 2018 ACORN members have been speaking out about the predatory tactics Malleum uses in their buildings that leads to tenant displacement and loss of affordable housing in Hamilton.
Malleum renovicted ACORN members at 160 Sherman Ave N and 1083 Main St E and repeatedly offered low ball buyout offers to ACORN members at 41-43 Albert St. We also received complaints from 540 King St E and 293 Kenilworth Ave N. At 160 Sherman Ave N, 1083 Main St E and 41-43 Albert St tenants reported deliberate neglect of the properties during Malleum ownership.
ACORN members delegated over two meetings, met with economic development staff and submitted 3 written correspondence.
Council voted earlier in the day to limit future grants to buildings where no tenant displacement took place.
540 King St E was an affordable rental in Hamilton but between previous ownership and Malleum the building became completely empty by June 2019. Rents went from around $800 in 2018 to starting at $1,400 (post renovations by Malleum).
(2021 rental ad)
ACORN will continue to fight for strong local policy to restrict renoviction and stopping city funds to investment firms that are contributing to the problem needs to be part of this. From persistent advocacy from ACORN, staff have been directed to develop a comprehensive anti-renoviction strategy for Hamilton, which is expected to come back in the fall.
The Public Record: Council to Vote on Ending Financial Grants to “Renoviction” Properties
Hamilton Spectator: Hamilton council rejects $170K reno grant amid concerns of tenant displacement